“In the battle for the first company to reach and sustain $1 trillion in stock market value, don’t count out a come-from-behind victory,” Shira Ovide writes for Bloomberg.
“Apple Inc. has had a lock on its spot as the world’s most valuable public company by stock value for several years, and we’ve been waiting for it to crest the $1 trillion market cap milestone. The company inched within $50 billion of that mark in early June before its share price retreated a bit,” Ovide writes. “Amazon, though, is coming up fast.”
“At the beginning of this year, Apple’s stock market value was 50 percent bigger than Amazon’s. Now the gap is about 10 percent. The spread between the two companies was about $85 billion as of Friday’s U.S. market close,” Ovide writes. “That is a big but not insurmountable gap if Amazon keeps up its torrid stock gains. In 2018 alone, the value of Amazon’s shares has climbed $260 billion.”
Read more in the full article here.
MacDailyNews Take: One question:
How much would Apple Inc. be worth today had a Jeff Bezos-type CEO taken over the reins instead? – MacDailyNews, November 21, 2017
Amazon moves closer to overtaking Apple as most valuable U.S. company – April 27, 2018